MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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˹éÒ 197
... higher income , and with a higher income , we consume more of all normal goods . Leisure is a normal good . Other things being equal , the higher the income , the more leisure we take . In Reading Between the Lines , pp . 198-199 ...
... higher income , and with a higher income , we consume more of all normal goods . Leisure is a normal good . Other things being equal , the higher the income , the more leisure we take . In Reading Between the Lines , pp . 198-199 ...
˹éÒ 410
... higher than that of unskilled labor . There are two reasons why this occurs : first , skilled labor has a higher marginal revenue product than unskilled labor , so at a given wage rate the demand for skilled labor is greater than the ...
... higher than that of unskilled labor . There are two reasons why this occurs : first , skilled labor has a higher marginal revenue product than unskilled labor , so at a given wage rate the demand for skilled labor is greater than the ...
˹éÒ 438
... higher interest rate increases the future payoff from today's saving . It therefore increases the opportunity cost of current consump- tion . Thus a higher interest rate encourages people to economize on current consumption and take ...
... higher interest rate increases the future payoff from today's saving . It therefore increases the opportunity cost of current consump- tion . Thus a higher interest rate encourages people to economize on current consumption and take ...
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